IMPACT OF TECHNOLOGY IN BUSINESS
By just looking around us, we can see how deeply we are being influenced by technology. A day without technology would be an all-day sleeping situation, or you would be doing some kind of yoga or meditation. If you wake up, you would be surrounded by different kind of technologies; Notifications from the phone, the light you turned on, and the vehicle you drive, the music you listen to. By asking your parents or grandparents about how they lived in their time, the improvement in technology can be easily understood. They would probably say that the world was difficult comparing with the current time. Technology reduces our effort on almost everything. But how does it help business? Let’s know about the impact of technology on business.
HOW TECHNOLOGY HELPS BUSINESS TO GROW
The very basic thing a business could grow is to ensure customer satisfaction. If the customer is not satisfied with the product or services one company is providing, probably the business will go down, resulting in a loss.
How technology can improve the pleasure of the customers?
The answer is simple, by communicating with the customer. If the company could directly contact with the customer, the company will be able to know the satisfaction of a customer.
But how can a company with huge sales volume contact every customer? Here technology plays an important role.
Now with the technology we have, we could easily order a product online from our home or office, satisfaction level increases.
The product has been delivered at the right time, the satisfaction level is going up.
The company asking is it the right product so that the company can cancel the order and refund you, the impression increases.
The product is of quality and as expected, satisfaction at its peak.
Rather than going to shop each time for the process, now everyone can communicate about the product or services from wherever they are comfort.
Widening the market
Businesses grow as the market gets bigger.
By using conventional business methods, the market range would be so small. The technology helps to reach even small businesses up to the international market from the local market.
By using digital marketing techniques such as web banners and ads a small business can grow and find other markets.
The best method for small businesses to reach out to the worldwide market is through retail websites, where the products can be delivered by ordering them through the websites.
There’s no sleeping time for websites. This means the product or services can be accessed through the websites any time anywhere.
Technology has an important part in reducing the total cost of production.
By sharing the website of businesses through social media and links, it is easy to reach out to a mass market; which is a less costly method than conventional marketing strategies.
The first stage of running a business is to make awareness among the customers about it.
The biggest market in the world is social media itself. Therefore by just sharing the information about the business will helps thousands to know about your product or services. Which in time and process slowly moves to consideration and conversion.
The data handling is the other major cost consuming area. The conventional way of handling data requires a lot of cost and time.
Now the data can be stored in storage devices with the help of technology. These data can be easily tracked or modify or retrieve any information just by a click, and from anywhere in the world.
Impact of technology in business ensures both the company and customers their pleasure of doing business.